Top 10 Solar Companies In India 2022 has commenced on an optimistic note for the renewable energy sector in India. Driven by robust demand, India’s renewable energy capacity has seen a tremendous increase of almost 250% between 2014 – 2021. The growth is further fuelled by increasing investments in the green sector. India ranks 4th in renewable energy capacity and 5th in solar energy capacity globally. India stands as an attractive and growing market for the world and its FDI inflow is expected to touch the USD 500 billion in renewable energy by 2028.
The Government of India is not leaving any stone unturned to expedite renewable energy production and project the nation as one of the biggest renewable energy-producing countries in the world. In the 3rd Biennial Update Report (BUR) at the CoP26 climate summit 2021, India stated that its solar energy capacity has increased 17 times in the last 7 years and stands at 45 GW.
The Ministry of New & Renewable Energy also plans to launch the Rooftop Solar (RTS) Program Phase II throughout the country with a provision of subsidy. Apart from launching multiple subsidiaries and schemes, the Government is also motivating businesses to collaborate, boost start-ups, and allow foreign direct investments for technological advancement, thereby encouraging more private participation in renewable energy.
Let’s look at the top 10 Solar Companies of 2022 that are providing the best solar power resources in India:
- Goldi Solar: Goldi Solar is a leading Indian solar panel manufacturer, EPC services provider, and independent power producers (IPP). It is an MNC headquartered in Surat, Gujarat that caters to several international brands in more than 20 countries, including USA, UAE, Turkey, Myanmar, Italy, Greece, Germany, France, Denmark, and Croatia. Over the past ten years, the company’s manufacturing capacity has grown from 10 MW to 500 MW. Subsequently, it aims to add another 2000 MW, leading to a capacity of 2.5 GW by the end of FY21-22.
- Tata Power: Tata Power is one of the best manufacturers of Solar Panels in India with a production capacity of 580MW of modules and 530 MW of cells. With 32 years of solar industry experience, the company has undertaken more than 7GW of ground-mount utility-scale projects, more than 750MW of rooftop projects, and installed over 55000 solar water pumps to date.
- Vikram Solar: Vikram Solar is a major solar energy solution provider. They are spread across continents and are efficient in solar PV module manufacturing and comprehensive EPC solutions. In Kolkata, they have a 10 KW floating solar plant and a 1 GW solar panel manufacturing capacity.
- Adani Solar: Apart from being one of the biggest solar panel solutions providers in India, they are also the first Indian company to vertically integrate businesses that extend services across the spectrum of photovoltaics manufacturing and integration. Multilevel infrastructure in the state-of-the-art manufacturing facility makes it possible to produce both modules and cells under one roof.
- Waaree Energies: The Mumbai-based Waaree Energies Ltd. was founded in 1989 and has a significant presence in India and overseas. They have a 2 GW module manufacturing facility in Surat. They also provide EPC services, project development, solar water pumps, solar rooftop solutions, independent power plants.
- ReNew Power: ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects.
- Microtek Solar Solutions: Manufactured with advanced and most recent solar technologies, Microtek Solar provides Photo Voltaic Modules, Power Conditioning Units, Solar Management Units, and Solar combo packages. The company offers a wide range of solar products for retail and commercial users.
- Loom Solar: Loom Solar is one of the fastest-growing solar panel manufacturers in India. Founded in 2018, the company offers a broad range of 10-watt to 450-watt solar panels, mono-perc solar panels, and lithium batteries. It is based in Faridabad and has a production capacity of 100 MW.
- RenewSys Solar: RenewSys Solar manufactures solar modules and key components like solar PV cells, black sheets, and encapsulants. With two manufacturing units in India, the company supplies products to over 40 countries around the world.
- EMMVEE: EMMVEE is one of the largest manufacturers of solar water heating systems across Asia. The company has installed and commissioned Top 10 Solar Companies In India PV projects 14 MW in the North of Germany, and 13 MW rooftop, and 140 + MW in India.
In the renewable energy sector, there has been a massive increase in private players. All companies, big and small, are trying to make an impact on India’s climate commitment and achieve sustainable development goals. Last year at the Conference of the Parties, CoP26 2021, India pledged to become a net-zero carbon emitter by 2070, reduce its carbon emissions, and launch targets for renewable energy deployment. The recent Climate Change Performance Index (CCPI) 2022 report continues to rank India as the top-performing country, proving that its journey to becoming a Green Economy is definitely on the right track!